60/61 Prime West End Freehold FOR SALE - With Development Potential (subject to planning permission) - Robert Irving Burns
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
60/61 Tottenham Court Road,
London W1T 2EW
Prime West End Freehold FOR SALE
With Development Potential (subject to planning permission)
Tottenham Court Road
60/61 Tottenham Court Road, London W1T 2EW www.rib.co.uk
LOCATION
The subject property is situated on a prime retail
pitch, on the west side of Tottenham Court
Road. Nearby occupiers include DFS, Carphone
Warehouse, Metro Bank, Itsu, M&S etc. Goodge
Street & Tottenham Court Road Stations are within
a few minutes walking distance to the property.
60/61
Experian Goad Plan Created: 11/02/2021
Created By: Savills
60/61 Tottenham Court Road, London W1T 2EW www.rib.co.uk
DESCRIPTION
Comprises two adjoining Freehold buildings arranged
over basement, ground and three upper floors.
There is a satellite dish which is located on the flat roof
on No.60 and is let to a UK broadband company. There is
significant development potential on the upper floors and
to the rear of the building.
CROSSRAIL
Tottenham Court Road station is in the final stages of
its major transformation with an expected completion
date being in Q2 2021. The Crossrail project is
delivering a new underground station and ticket
hall at Dean Street in Soho and a second integrated
ticket hall below St Giles Circus on Oxford Street.
When complete, Tottenham Court Road will be one of
London’s busiest stations, providing an interchange
between Northern, Central and Elizabeth line
services, with more than 170,000 passengers passing
through the station every day.
60/61 Tottenham Court Road, London W1T 2EW www.rib.co.uk
PLANNING & FLOOR AREAS
Planning was granted on 27th June 2017, subject to a Section 106 agreement to erect a single storey roof extension to provide a 1 x 2 bedroom self-
contained flat, and the erection of a four-storey rear extension at No. 60 to provide B1a (office) use at 1st-3rd floor and a four storey rear extension
at No. 61 for relocated stair core and to also include change of use of 1st-3rd floors of No. 61 from C3 (residential) to B1a (office). Once complete,
this would provide a total commercial NIA of 5,266 sq ft and a residential Net saleable area of 807 sq ft (plus 250 sq ft for terrace space).
Local Council – Camden Council
Planning Reference – 2016/5970/P
Proposed Area Schedule
RELATING TO THE
CONSENTED SCHEME
Floor Use Sq ft Sq m
60 Tottenham Lower Ground Commercial 400 37.16
Court Road Ground Commercial 679 63.12
61 Tottenham Lower Ground Commercial 477 44.29
Court Road Ground Commercial 437 40.58
First Commercial 1,091 101.40
60 & 61 Tottenham Second Commercial 1,091 101.40
Court Road Third Commercial 1,091 101.40
Fourth Residential 807 (plus approx. 250 of terrace space) 75 (plus 23.23 of terrace space)
Total 6,073 (plus approx. 250 of terrace space) 564.35 (plus approx. 23.23 of terrace space)
Note: Floor areas have been provided by the Landlord and we would encourage all parties to carry out their own due diligence.
60/61 Tottenham Court Road, London W1T 2EW www.rib.co.uk
TENANCY SCHEDULE - 60 Tottenham Court Road
NIA Lease Lease Gross
Floor Tenant Notes
sq ft Start Date End Date Rent £pa
Ground & Nextguide Ltd t/a Mr There is a mutual break option at the next review date on 23rd July 2022.
1,161 28/07/2017 17/07/2027 £90,000
Basement Toppers The lease is contracted inside the L&T Act 1954.
The rent is inclusive of Service charge and insurance. The lease is contracted outside the L&T Act
First (Front) KC Provider Ltd 347 01/10/2020 30/09/2021 £14,400 1954 with a mutual break option after 6 months from the start of the term.
First (Rear) Michael Doohan 140 09/02/2021 08/02/2022 £6,600 There is a mutual break clause by way of 1 months’ notice. The lease is outside the L&T Act 1954.
Rolling periodic lease with tenant providing 3 months’ notice to vacate. The rent is inclusive of
Second Distassi Art Ltd 294 01/08/2019 31/07/2020 £14,160 service charge and insurance. The lease is contracted outside the L&T Act 1954.
Third Vacant 370
The lease is subject to CPI linked, five yearly reviews. There is an outstanding review as of 23rd December
Roof UK Broadband Ltd 24/12/2015 23/12/2025 £17,000 2020 and the rent is inclusive of service charge and insurance. The lease is inside the L&T Act 1954. If the
planning is exercised, the satellite dish is capable of being relocated.
Sub Total 2,312 £142,160
TENANCY SCHEDULE - 61 Tottenham Court Road
NIA Lease Lease Gross
Floor Tenant Notes
sq ft Start Date End Date Rent £pa
Ground & Sweet Ventures Ltd
1,149 25/03/2017 24/03/2027 £85,000 There is a rent review on 25th March 2022. The lease is contracted inside the L&T Act 1954.
Basement t/a Cards Galore
One Move The rent is inclusive of service charge and the lease is contracted outside the L&T Act 1954 with a
First 295 15/10/2020 14/10/2022 £23,000
Property Group mutual break option at the end of the first year of the tenancy.
The rent is inclusive of service charge and the lease is contracted outside the L&T Act 1954. There is a
Second Cultivist Ltd 312 15/12/2019 14/12/2023 £24,000 tenant only break option on and after 15/12/21 on 6 months notice.
The rent is inclusive of service charge and the lease is contracted outside the L&T Act 1954 with a
Third Topfivepercent Ltd 324 01/08/2020 30/06/2022 £18,000 mutual break option at end of year 1.
Sub Total 2,080 £135,560
Note: Floor areas are subject to verification and we would encourage all parties to carry
out their own due diligence.
Total 4,392 £289,66060/61 Tottenham Court Road, London W1T 2EW www.rib.co.uk
VAT
No. 61 is elected for VAT.
No. 60 is not elected for VAT.
Legal Costs
Each party is to bear their own
legal costs.
PRICE
Upon application.
Contact
Should you require any
further information
or wish to arrange an
inspection, please contact:
Damien Field Adam Ben-Harosh George Cook
Damien@rib.co.uk Adam@rib.co.uk George.Cook@rib.co.uk
07956 125 543 07879 497 365 07880 722 557
Robert Irving Burns Limited on its behalf and for the Vendors or Lessors of this property whose Agents they are, give notice that: 1. These particulars are set out as a general outline only for guidance to intending Purchasers or Lessees, and do not constitute any part of an offer or contract. 2. Whilst Robert Irving Burns Limited uses
reasonable endeavours to ensure that the information in these particulars is materially correct, any intending Purchasers, Lessees or Third Parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection, searches, enquiries, surveys or otherwise as to their accuracy. Robert Irving
Burns Limited as such cannot be held responsible for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss of profits resulting from direct or indirect actions based upon the content of these particulars. 3. No person in the employment of Robert Irving Burns Limited has any authority
to make any representation or warranty whatsoever in relation to this property. 4. Unless otherwise stated, all purchase prices and rents are correct at the date of publication and, unless otherwise stated, are quoted exclusive of VAT. Lease details and service ground rent (where applicable) are given as a guide only and should be
checked and confirmed by your solicitor prior to exchange of contracts. Robert Irving Burns: November 2020You can also read
